Archive for the ‘international business’ Category
Businesses today are becoming more and more complex. As a direct result, international firms and enterprises are faced with a new set of challenges every single day.
To help them remain competitive amid these changes, many firms rely on analysts whose job it is to analyze an organizations structure, efficiency, or profits.
In private industry, an international business consulting analyst is simply called a management consultant. Besides analyzing the problem-ridden organizational structure of a business, the analyst will also propose ways to improve these weak spots.
For instance, your company may be small but it is rapidly growing and you need help improving your methods of managing and controlling inventories as well as expenses. An international business consulting analyst who has expertise in just-in-time inventory management would be the professional to hire.
How about if your company is a large one and you are in the process of creating a new division? You may still need to hire a business consulting analyst who will help reorganize the corporate structure and eliminate duplicate or nonessential jobs.
An international business analyst may be working independent of any management consulting firm. And even management consulting firms may range in size from single practitioners to large international organizations that cater to an international market.
Some analysts may specialize in specific fields of industry while others take a more general approach. So you may end up hiring an analyst who will handle health care or telecommunications and a different one who will be responsible for human resources, marketing, logistics, or information systems.
The Work Process
Once an international business consulting analyst is contracted for his or her services, the first thing he or she does is to define first the nature and extent of the problem. This is the initial phase of an international business consulting analyst’s job where they are required to analyze relevant data, including annual revenues, employment, or expenditures.
They may also need to interview managers and employees as well as observe the different operations in the specific area of business.
After identifying the problem, the international business consulting analyst will then come up with sound proposals and solutions to address the problem. To prepare these solutions, the international business consulting analyst takes into account the nature of the organization, its relationship with peers in the industry, and its internal organization and structure. Often, an international business consulting analyst will gain insight into the problem by building and solving mathematical models.
Afterwards, the analyst will report his or her findings as well as recommendations to the client. Generally, these recommendations are submitted in writing but some international business consulting analysts may make oral presentations, depending on client preference.
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Want to have an international business career? Well, why not? But first, go through this short list of reminders:
* Most positions in international business career are located in the urban areas in the United States. So if you live in the rural areas, you have fewer opportunities available.
* Employment restrictions do exist so you may or you may not be able to obtain positions abroad.
* Expatriates, or American citizens working abroad, often have an advantage over non-expatriates. However, they are only typically employed if they possess certain skills or experience. So this means that having the right skills and experience are still the best guarantee you have to building an international business career.
* One of the best international employers is the Peace Corps, which has its own business-related set of opportunities. In addition, financial institutions, consulting firms, and manufactures also offer strong opportunities for international business careers.
* The fast track to an international business career in most companies is through sales, market research, advertising, or product management.
* As a general rule, your best chance for an international business career is with an American multinational economy.
Now you know the basics in international business career, here is how to prepare for it:
Start while still in school.
There is really no better starting point that when you are still in school and contemplating your career options. Seek out opportunities related to business. Preferable areas that you should focus on include accounting, finance, and marketing. Remember the stark reality: the fast track to an international business career often involves sales, marketing, and advertising. So choosing courses that address these areas in business and finance should help you prepare for a career in international business.
Narrow down your interests.
Once you have settled on a career, it is time for you to narrow down your interests. Focus on one particular field of business that offers several potential global opportunities. These may include: accounting, advertising, administrative/management, auditing, banking/finance, communications, computers/data processing, consulting, cultural affairs, and the like.
Obtain related experience.
There are many ways you can gain experience related to business. Through internships, summer jobs, or part-time employment, you will be exposed to current business practices and will gain valuable experience and even contacts as a result.
Try to find internship programs and other opportunities that are directly related to your chosen career goal. For instance, if you want a career in international finance, then work in a bank. You may not be able to intern or work in their international division, but you can still use this opportunity to learn all you can from someone in that office.
Also, you can volunteer to help out in an international division. Or ask someone who may have international experience about the international market
You want to get more international clients but don’t know where to start? Here is a simple plan for small businesses, or businesses who are highly motivated to expand internationally, but want to do it on a very small budget. This method also has the advantage of going one step at a time, giving you and your team the time to learn to adapt your products and sales procedures to different cultures.
Start with one targeting one country. If this is the first time you are expanding your business abroad, one country at a time is best. If you cannot decide which country to target first, come up with a short list of countries and go through the steps below for each country.
At this stage, it is a very good idea to break this research into part internet research and part phone call research. Do not by-pass the phone research. Fifteen minutes a day, over Skype, can give you much valuable information. You might even develop your first overseas business relationships.
Most importantly it will help you begin to evaluate the best way to position your products for best international sales results.
Here are some ideas to help you choose which country you would like to expand your business into.
1. Research your own client and prospect data base.
Go back as far as you can, to identify any foreign clients and look for any trends.
Are there any similarities?
Can you determine a specific country or area?
Can you organize a client survey to get more information?
2. Have a brief look online at where you competitors are overseas.
Check out the same information for other companies related to your industry which might not be competitors. You might share a similar target audience.
Is there a country in particular where your competitors are located?
Can you identify a country where you competitors appear to be trying to get into?
Can you see any trends, or angles to position your products?
3. Check which Internet Search Engines are the leaders in target country.
Search for keywords in those countries – use the advanced search options
This will give you a better idea of who your real competitors are in the target country.
Can you see any trends, or angles to position your products?
4. Research industry data
Look for differences in industry standards and regulations on the foreign country
Can you identify a foreign country with many companies in the same industry linked to companies within your industry in your country?
Can you see any trends, or angles to position your products
5. Research press articles, major publications.
Look for publications in your country and in the foreign country. Use the free online instant translation tools to get a good idea of what is in the news.
Can you identify the current key players?
Try to get an up-to-date feel for your industry in the foreign country targeted
Knowledge of recent events will give you something to talk about during your networking by phone.
6. Call any international clients you may have.
Ask them why they bought from you, were they happy, why they chose your company and try to get as much background information as possible about the foreign competition.
7. Keep online research to a minimum.
Simply get the names of the players and any major trends. Then move to the telephone. Start networking on the phone and continue.
Telephone networking will help you adapt your mindset to bring your company to international markets
Telephone conversation can provide you with more background information faster than you can get over the internet
Be sure to aim to speak to people with real insider knowledge of your industry in your foreign country. And look for various sources from different angles to get a broad view.
After a week or so, you should be feeling a direction towards one particular county. Continue your networking a little longer.
After a month or two or even a few weeks, if you methodically did your research through networking, you should feel comfortable in strategizing how you can sell one of your products in one specific foreign country.
You have to recognize that you will need to jump in without all of the information you would want. But you need to feel comfortable and have enough positive feedback to move forward.
This is the half of the second part of 8 Steps To Develop Your International Business. If you would like to get this full report it is yours free when you sign up for the Get International Clients newsletter.
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